FAQs About Commercial Claims

If you have stock that would normally be sold as new a (even though it may be cleaned) you cannot now sell it as new. Even in situations where a box that has a product inside is the only item damaged, there is still a loss that technically makes the whole product damaged. Cleaning equipment is one thing but damaged stock is another. Also be aware that smoke has an acid content that over time may rust internal parts of equipment. Getting smoke odors out of all the items that have been affected can be problematic. Give us a call we know the issues and how to push to make sure you are paid for your loss.

You should demand a meeting with your professional public adjuster present to discuss this issue with the insurance company adjuster, and the salvage company people. Chances are the salvage company person already has a buyer and knows how much profit they will make. You need to know this as well in order to make an informed decision that protects your ability to be fairly paid under your insurance policy.

This is a case were you probably should show the person to the door. There is no requirement we are aware of to re-build in order to get paid. You may in fact not be allowed to re-build because of code and zoning issues. By not replacing your building, you may not get the replacement cost of your loss but instead receive an actual cash value payment which would be less. In some cases if you purchase another building, it may qualify you to get replacement cost even though it is at another location.

Business interruption coverage will pay for your loss income. Extra expense coverage can be used to pay for expense you incur to resume operations that will reduce your loss of income. This can be a very tricky and problematic area so you should seek guidance in this area. As example, you may incur many thousands of dollars in extra expense only to have the insurance company tell you your efforts did not reduce or eliminate their exposure to you for business interruption. In other words they require you to prove you spent the money to reduce your business interruption loss. Agreements between parties on the front-end and utilizing the expertise of a professional public adjuster can help avoid some of the unexpected consequences involved in business interruption and extra expense claims.

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